Can be random answer or every body answer or an other opinion
Answer:
a. $1553
b. $1,303
c. $5,618
Explanation:
SUTA is 5.4% for employees if the total salary is below $7,000
In the provided scenario the salary is less than that as $7,000/6 employees = $1,167 each employee. The maximum salary is $1,100 in the scenario.
a.
SUTA = $7,000 * 5.4%
SUTA = $378
Retirement Fund = $75
Gross Salary = $1,100
$378 + $75 + $1,100 = $1553
b.
SUTA = $7,000 * 5.4%
SUTA = $378
Retirement Fund = $75
Gross Salary = $850
$378 + $75 + $850 = $1,303
c.
SUTA = $7,000 * 5.4%
SUTA = $378 * 6 employees
SUTA = $2,268
Retirement Fund = $75 * 6 employees
Retirement Fund = $450
Gross Salary = $150 * 4 employees
Gross Salary = $600
Gross Salary = $1,150 * 2 employees
Gross Salary = $2,300
Total Gross Salary = $2,900
Total Gross Pay = $2,268 + $450 + $2,900
Total Gross Pay = $5,618
Answer:
A security
Explanation:
A security is defined as an item that holds financial value and represents ownership of a property by the holder. It is used as a means of gaining some financial assistance.
The security acts something a creditor can use to get back their money in case the debtor fails to pay up.
In this case Pro-Racket takes the bill of lading to the local bank and uses it to obtain funds to hold the company over until final payment is received from the foreign distributor.
The Bill of lading here has been used as a security to obtain a loan from the bank
Answer:
correct option is B. $4,000
Explanation:
given data
Net credit sales = $100,000
management estimates = 4%
solution
we know here Net credit sales is = 100000
so bad debts expenses will be
debts expenses = 100000 × 4%
debts expenses = $4000
so amount of expense to report on the income statement will be $4000
and after adjustments = will be $4000 + $3000 = $7,000
so correct option is B. $4,000
Answer:
B. $183,000
Explanation:
Calculation to determine The amount of cash that will be collected in July is budgeted to be
Budgeted collection in July = July sales (190,000*35%) + June sales (210,000*45%) + May sales (110,000*20%)
Budgeted collection in July =$66,500 +$94,500 + $22,000
Budgeted collection in July=$183,000
Therefore The amount of cash that will be collected in July is budgeted to be $183,000